ESCROW creation

Please review carefully. Crowdfunding escrows will not be opened without the required documentation. Crowdfunding issues are subject to approval by GoldStar Trust Company on a case by case basis

ITEMS NEEDED FROM A CROWDFUNDING PORTAL:

  1. Proof of Portal Registration
  2. Portal Agreement
  3. IRA Agreement (if IRAs are to be used to raise funds for the issue, the Portal will obtain annual valuations from the Issuer and provide to GoldStar by the second Friday of every January)

ITEMS NEEDED FROM A CROWDFUNDING ISSUER:

  1. Bad Actor Check (from Portal)
  2. Escrow Application
  3. Required Information For Escrow Setup
  4. Escrow Agreement (signed by Issuer and Portal)
  5. Resolution of Borrowing Authority (if debt/lending)
  6. Certificate of Incorporation (or similar)
  7. PPM/Offering Memorandum (or similar)
  8. IRA Agreement (if IRAs are to be used to raise funds for the issue, the Portal will obtain annual valuations from the Issuer and provide to GoldStar by the second Friday of every January)

NON-CROWDFUNDING DOCUMENTS REQUIRED (506(C), 506(B) ISSUES):

  1. Bad Actor Check
  2. Escrow Application
  3. Required Information For Escrow Setup
  4. Escrow Agreement (signed by Issuer and Portal)
  5. PPM/Offering Memorandum
  6. Signature Authorization

PROHIBITED BUSINESSES

Marijuana-Related Business:
While the growth, sale, and/or distribution of marijuana is legal in some states, Happy State Bank chooses not to provide banking services to this industry by virtue of these activities being against federal law.

Internet Gambling Business:
Transactions prohibited by the Illegal Internet Gambling Act of 2006 are prohibited from being processed through this account.